Manipou
While you are entitled to your opinion, I don't think you are right. I think one of the issues is what people consider acceptable and their "benchmark". I can only talk about RHD cars because that is what I looked for and there was certainly a mismatch between what I called a good car and what others called good.
There is also the econmics of it all. I wouldn't want to buy a tatty car for £25,000 because I have seen how much it can cost to get them back to A1 condition. Take my car, as an example. The person who owned it before me spent over £12,000 in 3 years getting it mechanically spot on. New suspension incuding wishbones, new disks, pads, hoses etc, reconned LSD, wheel bearings, front hubs, ecu chip and other mods, new oil lines......................the list goes on. However, the difference between driving this car and any other one I tested was extraodinary.
At the same time as my car was for sale, there were 2 other RHD cars, one for the same money and one for £1000 less. Both cars looked great, maybe even better than my car but I knew that these cars would cost me a lot of money over time. I also drove a LHD car which had the best body condition of the lot (maybe a respray) and looked stunning inside and out. However, it was the worst car in terms of mechanical condition and I know that sold to some poor sod for £29,000.
There will always be people who know enough about these cars and cars in general, who will pay good money for the right car. They know that you need to look at the toal cost of ownership over time and would rather pay up for a great example than buy a shed. I paid £38,000 for my car and still think it was worth paying the money. In fact, I would have needed to see a car as low as £30k before it would have been worth me taking the chance on a lesser car.
The same applies to LHD cars. A poor condition car has prbably got at least £10k of trouble in it and therefore if you say that a poor one is worth £23,000 then a good one has got to be at least £33,000. That means that £30,ooo is about right for a car that is only a bit above average.
As for the bubble bursting, i really don't see this happening. In fact, I am as convinced that these cars represent a good investment. There aren't enough around, both here and on the continent, to satisfy the long term demand that i see coming. It really is the last truly collectable 911 (and maybe the 993RS). Peaple are only now beginning to realise how good a car and what a fine achievement they are. Luckily, the more recent GT3RS points this out in no uncertain terms. If you collect or are interested in older cars, these cars are the best thing since the original 70's RS and there has been nothing since.
I doubt prices will rise quickly but I really do think they are bomb proof when it comes to values.
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